Technical Analysis CLEAN & FINCABLES

Stock name: Clean Science and Technology Ltd.

Pattern: Double bottom pattern and retest

Time frame: Daily

Observation:

The stock experienced a decline starting in January 2024, which stabilized between March and May, forming a double bottom pattern on the daily chart. It had a significant breakout on May 22, 2024, with substantial trading volume. However, after the breakout, the stock is undergoing a major retest, causing its RSI to drop to around 55. According to technical analysis, if the stock rebounds from this retest, it may continue to rise.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

Stock name: Finolex Cables Ltd.

Pattern: Cup and handle pattern

Time frame: Weekly

Observation:

The stock has shown an overall upward trend. From the period January 2018 to May 2024, the stock has formed a cup and handle pattern on its weekly chart. In May 2024, it broke out of this pattern with significant trading volume. This breakout was reinforced by a positive MACD signal recently. According to technical analysis, if the stock sustains this breakout momentum, it may continue its upward movement.

You may add this to your watch list to understand further price action.

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

 

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